Showing 1 - 10 of 20,715
A bidding ring is a collection of bidders who collude in an auction in order to gain greater surplus by depressing competition. This entry describes some typical bidding rings and provides an introduction to the related theoretical and empirical literature.
Persistent link: https://www.econbiz.de/10009395646
The analysis of auctions is an active area of research for both theoretical and empirical economists. This paper … provides an overview of the literature relevant to the econometrics of auctions from a structural approach perspective. The …
Persistent link: https://www.econbiz.de/10011164214
colluding agents can be used to reduce the revenue losses from collusion. In a class of environments we show that the principal … optimal mechanisms can be implemented as uniquely collusion-proof mechanisms. …
Persistent link: https://www.econbiz.de/10011599408
-shot competitive interactions, like Bertrand oligopolies and first-price auctions, where no collusion would be supportable otherwise … reduce or at best cancel sanctions for price-fixing firms that self-report -- may make collusion enforceable even in one …
Persistent link: https://www.econbiz.de/10011608616
We study the principal’s optimal response to collusion in an adverse selection environment. Building on the framework … study a stronger collusion when the agents can coordinate their participation decisions in addition to the joint play of the … the private information is distributed continuously. We characterize the set of implementable collusion-proof outcomes of …
Persistent link: https://www.econbiz.de/10004972914
colluding agents can be used to reduce the revenue losses from collusion. In a class of environments we show that the principal … optimal mechanisms can be implemented as uniquely collusion-proof mechanisms. …
Persistent link: https://www.econbiz.de/10005515735
, predatory, and entry deterring behaviour. Ascending and uniform-price auctions are particularly vulnerable to these problems (we … discuss radiospectrum and football TV-rights auctions, electricity markets, and takeover battles), and the Anglo-Dutch auction … – a hybrid of the sealed-bid and ascending auctions may often perform better. However, everything depends on the details …
Persistent link: https://www.econbiz.de/10005114514
We analyze strategic leaks due to spying out a rival’s bid in a first-price auction. Such leaks induce sequential bidding, complicated by the fact that the spy may be a counterspy who serves the interests of the spied at bidder and reports strategically distorted information. This ambiguity...
Persistent link: https://www.econbiz.de/10012507333
colluding agents can be used to reduce the revenue losses from collusion. In a class of environments we show that the principal … optimal mechanisms can be implemented as uniquely collusion-proof mechanisms. …
Persistent link: https://www.econbiz.de/10011700241
decreases with repetition. Theory predicts that repetition facilitates collusion among sellers in procurement auctions, while … activities. We use an economic experiment to examine whether the market efficiency of conservation auctions increases or … effects, the latter has the upper hand; average bids decrease monotonically over the consecutive auctions. Since repetition …
Persistent link: https://www.econbiz.de/10011932593